JFrog Ltd. (NASDAQ: FROG) reached a new 52-week high during mid-day trading on Saturday, driven by an upgrade from DA Davidson to a strong-buy rating. The stock peaked at $60.68 before closing at $60.00 with a trading volume of 7,756,599 shares. This marks a significant increase from its previous close of $47.26.
Several other equities analysts have also weighed in on JFrog’s performance. On September 11, Robert W. Baird raised its price target from $52.00 to $58.00, giving the stock an “outperform” rating. Conversely, Weiss Ratings maintained a “sell (d-)” rating on October 8, while Oppenheimer upgraded JFrog from “market perform” to “outperform” with a target price of $75.00 on October 17. Cowen reaffirmed a “buy” rating on the same day, and Stifel Nicolaus increased its price objective from $45.00 to $53.00.
Analyst recommendations for JFrog are largely positive, with one analyst rating it as a strong buy, fourteen giving it a buy rating, two issuing a hold rating, and one recommending a sell. According to MarketBeat, the stock currently holds a consensus rating of “moderate buy” and an average price target of $62.69.
Institutional Investors Take Notice
In recent weeks, several institutional investors and hedge funds have adjusted their positions in JFrog. Beirne Wealth Consulting Services LLC acquired a new stake worth $367,000 in the third quarter. Vanguard Group Inc. has increased its holdings by 2.5%, owning 9,143,178 shares valued at $432,747,000 after purchasing an additional 224,513 shares.
The State of New Jersey Common Pension Fund D also raised its stake by 3.0%, now holding 45,363 shares valued at $2,147,000. HighTower Advisors LLC significantly boosted its holdings by 452.1%, now owning 56,821 shares worth $2,689,000. The Public Sector Pension Investment Board acquired a new stake valued at approximately $3,247,000. Overall, institutional investors own 85.02% of JFrog’s stock.
JFrog’s Financial Outlook
The company has recently demonstrated strong financial performance, with a 50-day simple moving average of $48.70 and a 200-day simple moving average of $44.13. JFrog’s market capitalization stands at $7.00 billion, with a negative price-to-earnings ratio of -85.71 and a beta of 1.02.
In its latest quarterly earnings report issued on November 6, JFrog reported earnings per share (EPS) of $0.22, surpassing analysts’ expectations of $0.16 by $0.06. The firm generated revenue of $136.91 million, exceeding the estimated $128.28 million. Although JFrog recorded a negative return on equity of -6.82% and a negative net margin of -15.88%, its revenue grew by 25.5% year-over-year. In comparison, the same period last year saw an EPS of $0.15.
Looking ahead, JFrog has set its fiscal year 2025 guidance at an EPS range of 0.780 to 0.800, with fourth quarter guidance between 0.180 and 0.200 EPS. Analysts predict that JFrog will report an EPS of -0.33 for the current year.
JFrog Ltd. operates an end-to-end hybrid software supply chain platform, providing services across various regions including the United States, Israel, and India. The company offers a range of products such as JFrog Artifactory, JFrog Curation, JFrog Xray, and JFrog Distribution, which collectively enable organizations to manage and secure their software packages effectively.
As JFrog continues to capture investor interest and analyst support, its market trajectory will be closely monitored by stakeholders in the technology sector.
